Basic Steps in Business registration

I’ve got friends asking me how to deal with the messy papers and for running documents for business registration. I told them, it is but normal and it is required to do it so especially in the Philippines. Well, these messy papers are extremely needed in putting up a business. Anyhow, I came across to a reading materials with easy and basic steps in doing your business registration.

Alright, so lets us start with your business name. Books and some reading materials explained that a business name is a name under which a business operates, same as giving a name to a pet or even a car perhaps. And business name registration is compulsory and must be completed before the business starts operating. Choosing the right name for your new business is so important. Your business name distinguishes your products and services from those of your competitors, well for some like internet based business for example are kind of techy or just based on what the owner like it or perhaps based on trends, and this helps establish your identity in the marketplace.

However, in putting up a business, there are several government agencies you have to register with depending on the type of your business. These are the following:

For Single Proprietorship

STEP 1

Business Name Registration Certificate
Visit Department of Trade & Industry (DTI) Provincial Office or log on to http://www.bnrs.dti.gov.ph.
Validity: 5 years
Requirements:

Accomplished Business Name Registration Form [Single Proprietorship/Partnership]

Tax Identification Number (TIN)

List of five business names ranked according to preference

Registration fee of P 300.00

STEP 2

Mayor’s / Business Permit
Local Municipality where the business is located
Validity: 1 year
Requirements:

Accomplished Business Permit Application Form

DTI-Business Name Certificate

Sketch of he business location

Fire Safety Inspection Clearance

Sanitary Permit (from City Health Officer)

Barangay Clearance

Lease Contract

2 pcs 2×2 colored ID picture

Registration fee, the amount of which depends on the type of the business

If the contributed capital is in the form of property, additional requirement is needed:

Deed of Assignment executed by the stockholder who is the owner

For Corporation

STEP 6b

SEC (see above address)

Requirements:

Articles of Incorporation and Buy-laws

Verification Slip Form (re: proposed name)

Accomplished Registration Data Sheet

Treasurer’s Affidavit

Bank Certificate of Deposit

Authority to verify bank accounts

Written Undertaking to Change Corporation Name when necessary

Subscribers Information Sheet

If paid-up capital is a property, submit the following additional requirements:

Statement of Assets and Liabilities

Deed of Assignment executed by the stockholder who is the owner of the property in favor of the corporation. If the property contributed is a building or a parcel of land, the deed must be presented to the register of Deeds for registration.

If the property being contributed is a parcel of land, submit detailed list of the parcel of land showing the OCT/TCT numbers, registered owner, lot and block number, area, location and encumbrances, if any

Registration fee of P360.00

OTHER AGENCIES

Depending on the type of products they manufacture or handle and on their market orientation, certain firms are required by law to register with other government agencies. The following is a list of regulatory bodies and industries / business they regulate:

a. For those engaged in the export of coconuts and coconut by-products

l. For business interested to tie up with export oriented firms as sub-contractors/suppliers provided they fall under any of the following sectors: garments and handwoven fabrics, gifts and housewares, furniture and fixtures, footware and leather goods, fresh and processed foods and jewelry.

m. For enterprises engaged directly or directly in the service, repair and/or maintenance of vehicles, engines and engineering works, electrical, electronics, air-conditioning and refrigeration, office machines and data processing, equipment, medical and dental equipment including the technical personnel like mechanics and technicians employed by such firms.

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